The Emmerdale actor has been given odds of 4/7 by Ladbrokes to lift the ITV skating show's famous glitter ball.
Fellow soap star Jorgie Porter - currently backed by Digital Spy readers - is placed at 2/1 to lift the trophy.
Meanwhile, Chico has been handed an outside chance with 6/1, having surprisingly made the final ahead of Jennifer Ellison.
Judge Louie Spence has already predicted that former X Factor contestant Chico will depart first in tonight's climax, leaving Wolfenden and Porter to battle it out with Boleros.
Dancing on Ice concludes tonight at 6.50pm on ITV1.
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